A Chinese healthcare company is considering making a late bid for the Body Shop, which has been put up for sale by its French owner L’Oréal.
Renhe Pharmacy Co recently enquired about partaking in the £600m Body Shop auction, according to Sky News.
Other bidders include former Formula One owner CVC Capital Partners and Italian firm Investindustrial, which owns a stake in Aston Martin.
L’Oréal, which acquired the ethical British chain founded by the late Anita Roddick in 2006, decided to sell it earlier this year, slapping an £850m price tag on it. This has now fallen to around £600m, Sky News suggests.
The French cosmetics giant acquired the retailer for £650m in 2006 but has presided over a period of decline, during which the Body Shop’s image has suffered.
Global sales fell by around 5% during its last financial year. It operates 3,000 stores globally.